Need Funds Between Buying and Selling? Here’s How Deposit Loans & Bridge Financing Help

Tanya Toye • August 5, 2026

You’ve outgrown your current home.


It no longer fits your life, so moving makes sense. And you’re not interested in juggling two properties. Selling first and buying something new feels like the right move.


Ideally, you want possession of the new home before leaving the old one. That overlap makes moving easier, reduces stress, and gives you time to paint, renovate, or settle in before the boxes arrive.


But there’s a common challenge.


What if the down payment for your next home is tied up in the equity of the one you’re selling?


That’s where bridge financing comes in.


How bridge financing works
Bridge financing temporarily unlocks equity from your current home once it has a firm sale. It bridges the gap between selling your existing property and purchasing your next one, allowing you to use that equity toward your down payment.


What about competitive markets?
In a hot market, a strong offer often means a larger deposit. If you don’t have that cash sitting in your account, but you do have equity, a deposit loan can help you compete with confidence.


The non-negotiable requirement
To qualify for bridge financing or a deposit loan, your current home must have a firm, unconditional sale.


No firm sale = no bridge or deposit loan.


Lenders need certainty to calculate available equity and manage risk.


Bottom line
A firm sale is the key that unlocks bridge financing and deposit loans.

If you’re planning a move and want to understand how these options could work for you, let’s talk. I’m always happy to walk you through your options and help you plan your next step with confidence.


Tanya Toye

Mortgage Broker

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Self-employed mortgage ad with person working at a laptop in a home office

Self-Employed? Let’s Get You Qualified for a Mortgage

By Tanya Toye • September 16, 2026
Being self-employed comes with plenty of advantages, including the ability to structure your business how you choose and claim expenses to reduce your taxable income. But, when it comes time to apply for a mortgage, those same tax strategies can sometimes make qualifying more complicated. One of the first considerations is how your business is structured. There can be differences in how lenders assess income for someone who is incorporated compared with someone who operates as a sole proprietor or partnership. Depending on the lender and the circumstances, income may be reviewed using personal tax returns, corporate financial statements or a combination of documents. Another important factor is the level of business write-offs you claim. As a business owner, reducing your taxable income can make good financial sense. However, a lower reported income can also mean a lower qualifying income when a lender assesses your mortgage application. This can create a frustrating situation where you may have strong cashflow and the ability to comfortably afford the mortgage, but your tax returns don’t necessarily tell the whole story. That doesn’t automatically mean you need to start declaring significantly more income and paying substantially more to the CRA just so you can qualify for a mortgage. Alternative mortgage solutions may be a great option Depending on your circumstances, there may be alternative mortgage solutions available that take a broader view of your financial situation. Some lenders have different approaches to self-employed income and may be able to consider additional documentation or alternate methods of demonstrating your ability to repay the mortgage.  This can create an important financial decision for self-employed borrowers. Is it more beneficial to pay additional taxes to show a higher income or consider a mortgage option with a higher interest rate that may allow you to qualify based on your existing financial structure? There isn’t a one-size-fits-all answer. The right approach depends on your income, business structure, financial goals, credit profile, down payment and how long you expect to be in that mortgage. The key is to have the conversation before you make changes to how you report your income. A mortgage broker who understands self-employed borrowers can help you explore your options and compare the potential costs of different approaches. Instead of assuming you need to change the way you run your business to qualify for a mortgage, it may be worth looking at the lending solutions available to you first. Being self-employed shouldn’t automatically make getting a mortgage more difficult. It just means your mortgage strategy may need to be as individual as your business. Let’s discuss your options. 604-788-8693 | tanya@tanyatoye.ca

RRSP Home Buyers’ Plan Explained: A Smart Way to Buy Your First Home

By Tanya Toye • September 16, 2026
Saving for a down payment is one of the biggest challenges first-time buyers face. What many don’t realize is that the Canadian government offers a program designed to make it easier—the Home Buyers’ Plan (HBP) . This program allows you to withdraw money from your RRSP to help purchase your first home, without immediate tax consequences. Here’s how it works: Who Qualifies? To be eligible, you generally need to be a first-time home buyer. In practical terms, this means you must not have owned a home in the past four years, nor lived in a property owned by your spouse or partner during that time. There are also special allowances if you’re living with a disability or helping a relative with a disability. In these cases, you can use the HBP even if you’ve owned a home more recently. How Much Can You Withdraw? Under the program, you can access up to $35,000 from your RRSP as an individual. Couples can combine their withdrawals for a total of $70,000 . These funds must have been in your RRSP for at least 90 days before you take them out. Paying It Back The HBP isn’t “free money”—it’s an interest-free loan from your own retirement savings. You’ll have 15 years to repay the full amount back into your RRSP, starting in the second year after withdrawal. Each year, the CRA will send you an HBP Statement of Account outlining how much needs to be repaid. If you don’t make your repayment in a given year, that amount will be added to your taxable income. Why It’s a Smart Strategy The HBP can give first-time buyers a powerful boost toward homeownership. It helps you put together a larger down payment, which can reduce your mortgage amount and monthly payments. Just remember: it’s important to balance the short-term benefit of homeownership with the long-term impact on your retirement savings. Next Steps Thinking about using the Home Buyers’ Plan? Let’s sit down and review whether it’s the right move for you. Together, we can create a strategy that gets you into your first home while keeping your future financial goals on track. 📞 Reach out anytime—it would be a pleasure to guide you through the process.